U.S. oil and gas rig count hits record low for ninth weekChristian Fernsby ▼ | July 2, 2020
U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a ninth week in a row.
Record low Oil rig
Topics: U.S. oil
That was 700 rigs, or 73%, below this time last year.
Baker Hughes released the rig count a day early on Thursday because the markets are closed a day ahead of the U.S. Fourth of July holiday which falls on a Saturday.
U.S. oil rigs fell by three to 185 this week, their lowest since June 2009. ■